Location: Cortland County, NY | Metro: Chenango County, NY
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $145,444 | 0.74% | D |
| 3BR | $1,360 | $193,311 | 0.7% | D |
| 4BR | $1,810 | $218,814 | 0.83% | C |
U.S. Census Bureau data (2024)
19.3% of residents in ZIP 13040 (Cincinnatus, NY) are renters, indicating a modest demand for rental properties in the area. The $168,814 median home value suggests that the real estate market here is relatively stable and affordable compared to larger metropolitan areas. However, the $908 market rent, derived from Census ACS data, is notably lower than the $1,070 Fair Market Rent (FMR) for the metro area in fiscal year 2026, which presents an opportunity for landlords and small-portfolio investors. This discrepancy means that properties rented at or near the FMR could attract tenants seeking assistance through government programs.
The median income of $70,167 provides insight into the economic profile of the area's residents, suggesting that a significant portion may require rental assistance. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut shares, the economic indicators point towards a scenario where Section 8 vouchers could be beneficial for both landlords and tenants. Landlords can leverage the higher FMR to ensure steady and reliable rental income, while tenants gain access to affordable housing options.
In summary, the combination of a moderate renter population, a reasonable median home value, and a gap between market rents and FMRs makes ZIP 13040 a viable option for those considering Section 8 participation. The economic context supports the feasibility of renting properties at rates that align with the FMR, thereby attracting voucher holders without compromising on income stability. Therefore, for landlords and small-portfolio investors looking to enter or expand in the Cincinnatus, NY market, participating in Section 8 is a prudent strategy to ensure occupancy and financial security.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.